MIRA INFORM REPORT
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Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAHMUD DENIMS LIMITED |
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Registered Office : |
Progressive Tower (1st Floor), 1837, Sk Mujib Road,
Badamtoli, Agrabad, Chittagong |
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Country : |
Bangladesh |
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Date of Incorporation : |
25.06.2004 |
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Com. Reg. No.: |
2-C5299 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacturing and exporting of denim fabrics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 25,000.00 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Bangladesh |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Mahmud Denims
Limited |
|
Address |
Progressive
Tower (1st Floor), 1837, Sk Mujib Road, Badamtoli, Agrabad,
Chittagong |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8845394 |
|
Fax No |
880-2-8845396 |
|
E-Mail |
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|
Website |
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Established |
July, 1997 |
|
Company Registration No |
2-C5299 |
|
Registration date |
25th
June 2004 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
House
No.110, Block-B, Bashundhara R/A, Dhaka- 1229, Bangladesh |
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Telephone No |
880-2-8845394 |
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Fax No |
880-2-8845396 |
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E-Mail |
|
|
Website |
|
|
Registered Office Address |
Progressive
Tower (1st Floor), 1837, Sk Mujib Road, Badamtoli, Agrabad,
Chittagong |
|
Factory |
Shafipur,
Kaliakoir, Gazipur |
|
Factory Telephone No |
+880-1714-166266 |
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Factory Fax No |
+880- 682-251116 |
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Warehouse |
Shafipur,
Kaliakoir, Gazipur |
DIRECTORS
|
Name |
Mr. Mahmudul
Alam |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
|
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Name |
Mr. Gazi Alam |
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Designation |
Managing Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Mahmudul
Alam |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Gazi Alam |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Denim Fabrics |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Production
Capacity |
8 million Yards
per year |
|
Last Year
Production |
8 million Yards |
BANKERS
|
Name |
Prime Bank
Limited |
|
Branch |
Uttara Branch |
|
Address |
Uttara Model Town, Dhaka |
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SWIFT |
N/A |
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|
|
|
Name |
Mercantile Bank
Limited |
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Branch |
Agrabad Branch |
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Address |
Agrabad Commercial Area, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.32 million |
Tk.30 million |
Tk.30 million |
|
Turnover |
Tk.328 million |
Tk.325 million |
Tk.324 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.53 million |
Tk.50 million |
Tk.50 million |
* The subject has flatly refused to reveal any financial information. Whatever shown here are collected unofficially and as such its authenticity could not be verified.
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.2 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
121.6116 |
|
U.S Dollar |
1 |
74.7000 |
|
European Euro |
1 |
107.4335 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 25,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
680 |
|
Office Area (Sq.
Ft) |
1,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
20,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
4,000 sq.ft.(rented) |
|
Range of
Products |
4 OE/OE Fabrics 4 Chambray |
|
Export Market |
4 Wal-Mart 4 Red Cats 4 Tom Tailor 4 Imar Export SPA 4 Little Wood 4 TV Mania 4 Miles 4 Complices 4 Bestseller |
|
Fabrics &
Accessories |
4 China 4 Hong Kong 4 India 4
Pakistan 4 local
Sources |
|
Certifications |
NIL |
|
Group Name |
4 Mahmud Group |
|
Subsidiaries /
Affiliates |
4 Mahmud Indigo Ltd. 4 Mahmud Washing Ltd. 4 Mahmud Spinning Ltd. 4 Mahmud Jeans Ltd. 4 Provita Feed Ltd 4 Provita Breeders Ltd 4 Mahmud Ship Yard Ltd 4 Mars Textile Ltd 4 Noor E Madina Overseas 4 Provita Hatchery Ltd 4 Provita Ship Yard 4 Dong Bang Dyeing Ltd & Dong Bang Textile Ltd 4 Pacific Oil Company Ltd |
|
Member |
4 Bangladesh Garments Manufacturers
& Exporters, Association, Chittagong 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
COMMENTS
The subject is a private limited company who is engaged in
manufacturing and exporting of denim fabrics. The subject is a concern of
Mahmud Group.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
their business commitment, it reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.29 |
|
UK Pound |
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.17 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.